News of the week

BoCom bank used a platform called Juicai Chain to issue 9.3 billion yuan worth of RMBS. With blockchain, all parties are tracking assets, managing cash flow, and performing other business operations. The use of blockchain helps reduce risks and also shortens the RMBS issuance time, along with providing assets’ authenticity.

Switzerland-based asset management company Tiberius Group AG steps into the digital coin market by offering a new token backed by seven metals. The company plans to make a market in the asset so that its value holds close to that of a price of a basket of copper, aluminum, nickel, cobalt, tin, gold and platinum. The new coin will be offered at about $0.70 and will be sold under Swiss law, instead of as an unregulated initial coin offering, or ICO.

Austria to Use Ethereum Public Blockchain to Issue $1.35 Bln in Government Bonds

Oesterreichische Kontrollbank, one of Austria’s biggest banks, will operate the live blockchain notarization service and will issue the bonds on behalf of the Austrian Treasury on October 2. Austria’s Finance Minister, Hartwig Löger, is sure that it will strengthen Austria’s good standing in the market.

Decentralized internet startup TRON announced fresh details of integration with torrent client BitTorrent. TRON is seeking to use its TRX token within the platform’s user base to create a hybrid content sharing ecosystem which leverages cryptocurrency. Users will be able to create incentives with tokens as a means of obtaining premiums such as faster download speeds. Those who continue to seed torrent files after completed downloads can also earn tokens as a reward.

Ripple is launching a formal social impact program “Ripple for Good”. The initiative will invest own $25 million and donated $80 million in projects focused on education and financial inclusion. Ripple is still assessing which projects will form a part of their initiative with the focus on educational programs in the fields of Science, Technology, Engineering and Mathematics (STEM) and financial technology (FinTech).

Superrich International Exchange has unveiled its plans to enter the crypto space in addition to 32 fiat currencies. Superrich is “modernizing its branches by adopting new technology to serve customer demand and compete with other money changers”. The company hopes to start offering a crypto exchange service this year.